The International Monetary Fund downgraded its forecasts for global growth last month, blaming the weaker-than-expected expansion in emerging markets.

The OECD's latest forecast is even weaker than the IMF's prediction of growth of 2.9% this year.

Al Gore's got a beef with GDP

But there were some bright spots in the OECD report. The group expects Chile, Turkey, Mexico, Korea and Israel will continue delivering impressive growth, outpacing other economies over the next few years.

The OECD also issued a new forecast for 2015, predicting a slight acceleration in growth to 3.9%.